http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-10-20.html  Looking at a very long-term view of the Dow on the weekly chart, price reached a peak high on Oct 7th, 2007 at 14198.00 and reached a low on March 1st, 2009 at 6474.09.  As of this writing, the Dow is currently about half-way between the 38.2 and 50.0% retracement levels of this move. On Oct. 2nd, 2009, price on the Dow hit the 38.2% level of the weekly Fib, and the 61.8% retracement level on the daily Fib at 9420.69 Last week price snapped to the 118% extension on the daily andTue, 20 Oct 2009 15:00:10 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-10-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-09-14.htmlGold hit a double-top this week, touching a key level last reached during the week of February 15, 2009 and breaking the $1,000.00 markfor the for the third time in about a year and a half. If price re-tests the 1007.33 level and it holds assupport, gold could be headed to 1133.24 during 2010, with resistanceon the way to keep an eye on at 1013.10 and 1038.60 If we move down from here, then the 38.2 Fibonacci level at about882.00 has been the area price has previously found support, withMon, 14 Sep 2009 14:18:26 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-09-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-07-02.html  Gold is ending the week at a key support level.  If 929.39 continues to hold, we could see a rally week which takes us first to 958.60, and if that breaks possibly to re-test January’s high of 1005.98 If the 929.39 level is broken, we could see prices drop to 872-882 before it begins to recover. Long-term, we remain bullish on gold, with an eventual target at 1129.96 Dollars per ounce.  But, before that target can come back into play, price needs to break 1005.98, and findThu, 02 Jul 2009 15:26:48 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-07-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-03-06.htmlThe Dow Jones Industrial Average has taken another beatingthe past two months, dragged down primarily by some of its component companies,including: General Motors, Bank of America, Citigroup, and JP Morgan Chase. This non-stop slide is part of the reason for the US Dollar’snew-found strength, as the sell-off in assets created by market uncertainty andalso funds’ need to fulfill redemptions creates a big demand for cash.  And currencies respond to supply and demandjust like any otherFri, 06 Mar 2009 10:42:59 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2009-03-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-11-20.htmlOne of the factors which has been center stage throughout this crisis is the price of crude.  High oil prices were initially blamed for the fall of the US stock market.  And yet, with oil trading at $52 a barrel, we find the Dow still hovering right around 7900.  The question on everyone’s mind… is what happens to the economy if oil should start to go back up? Oil affects the cost of doing business for almost every company out there - whether they use plastics, or have to shipThu, 20 Nov 2008 01:43:28 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-11-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-10-15.htmlTraditionally thought of as a safe-haven during periods of high inflation or market uncertainly, this shiny yellow metal has been moving by over $100 per ounce on some recent days.  But there's more to the story than just the recent market panics. The day prior to the first "no" vote on the US bail-out package, gold made it's bottom at 736.18, a level projected nearly 2 months in advance by Fibonacci studies.  But besides the technical indicators, there is a genuine fundamentalWed, 15 Oct 2008 16:04:05 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-10-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-26.html  With all the turmoil in the markets, how to we get a clear sense of direction?  Well, for oil at least, there are two key numbers to watch: If we finish this week with a close above 110.51 , and manage to find some support at that level, then that future direction may well be up, which will not help the U.S. financial markets very much.  If such a scenario comes to pass, then the next likely resistance level is at 124.56 If instead trading takes us down below 99.16 , then weFri, 26 Sep 2008 12:05:58 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-19.htmlGold, traditionally a safe haven in uncertain times and a hedge against inflation, has seen tremendous volatility the past few days.  The collapse of Fannie, Freddie, Lehman Brothers, AIG, and HBOS has sent investors ducking for cover, many of them turning to gold and causing prices to soar by more than $142 per ounce in a single day. The announcement of a ban on the short-selling of financial stocks both in the UK and the US capped the rally just as dramatically, as investors neededFri, 19 Sep 2008 11:01:53 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-19.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-12.html  Gold and silver both hit the targets projected the prior month. As trading closed for the week, gold was heading back up to re-test 774.33 as resistance.  If we cross (and stay) above this number in the coming week, then 730.23 was indeed our bottom and we should see the metal slowly recover some of its value in the months ahead. Mostly likely we may range between 730.23 and 774.33 for some time, and if 730.23 fails to hold as support, then we could see another move down as low asFri, 12 Sep 2008 21:22:29 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-05.htmlToday's employment data showed a loss of 84,000 jobs, an increase of 11,000 over last month.  This marks the 8th consecutive month of job losses in a row, not a good sign for the US economy.  The unemployment rate rose to 6.1%, a five-year high. This news comes right on the back of yesterdays less-than-optimistic numbers: http://www.fxstreet.com/fundamental/market-view/global-news-fundamentals/2008-09-04.html The result sent Dow future tumbling another 100 points, followingFri, 05 Sep 2008 14:33:09 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-09-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-29.htmlHurricane Gustav is expected to hit the Gulf of Mexico (which contains roughly 1/5th of all US oil producing and refining facilities) late Monday or early Tuesday morning, with winds of at least 131 miles per hour. How will this affect the price of oil? In many ways, it already has.  People have had some time to digest the news, so the fear factor should already be priced in for the most part.  Even with this development, it could not sustain prices above the 120.43 level we wereFri, 29 Aug 2008 10:08:57 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-21.html2 weeks ago this column accurately called the bottom in oil - now Bear Sterns is predicting $147 a barrel by the end of this year. Will we get there? Perhaps.  But in order to do so, it first needs to remain above 120.43, and eventually clear resistance at 124.20 - even better if that level holds as the new support.Thu, 21 Aug 2008 20:30:19 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-15.htmlGold and silver have both been tumbling in recent weeks.  Is there a bottom in sight?  There are certainly some likely candidates. For gold, 795.25 is currently resistance and 774.33 is support.  If support should give way, I expect to see a bottom, for now, at 730.23.  If the bulls come rushing in, then additional resistance is waiting at 812.08 and 845.72 Silver, on the other hand, may have already touched its bottom.  12.68 is the most likely place for it to settle,Fri, 15 Aug 2008 14:18:14 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-07.htmlOil is well worth tracking because it has so much influence on both the Dow and the US Dollar (and therefore all the major currency pairs which cross it).  Fundamentally, the case is much stronger for oil heading up over the longer term, but where is it likely headed in the nearer term? The daily chart for oil is beginning to trace a bullish divergence, and the weekly stochastics are showing signs of turning as well - all of this points to a potential bottom.  119.68 is a key levelThu, 07 Aug 2008 13:25:12 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-08-07.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-18.v03.htmlThe precious metals saw a cooling this week, due largely to the drop in oil prices and the strength that lended to the US Dollar and the Dow. Gold just broke below support at 959.48, and may be on its way to test 946.35.  If the drop continues beyond that, then 929.13 is the next likely candidate for support.  If we resume moving up, then 974.22 and 991.43 are the most likely resistance. Silver, meanwhile is comfortably resting at 18.39 support,with additional support just below atFri, 18 Jul 2008 11:44:36 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-18.v03.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-11.htmlGold has hit our first target of  940.29, and is now on its way to our next target at 960.10 - if that level breaks a third target at 992.14 comes into play.  Support remains at 940.29 and 928.06 Oil, meanwhile, has found support at 136.50, precisely the level we called 2 weeks go.  Next resistance is at 150.00, and 140.00 remains support for now. Silver is currently at a key level.  If it can break above 18.39 and then successfully test that level as support, we areFri, 11 Jul 2008 11:18:21 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-04.htmlGold has hit our target of 940.29, and has since cooled a bit to 931.70.  Now support is waiting at 928.06, 922.25, 917.58, and 908.25.  If price manages to break above 940.29, then the next targets are currently waiting at 960.10, then 992.14.Fri, 04 Jul 2008 20:38:00 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-07-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-27.htmlGold started moving once again yesterday - largely in response to oil breaking the $140 mark and the resulting downward pressure on both the Dow and the US Dollar. Current target is 940.29, with resistance in the way at 928.06.  If price should drop, we expect to find support at 922.25, 917.56, 908.25, and 896.01.Fri, 27 Jun 2008 20:51:59 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-13.htmlCorn set another record today as fields in the MidwestUnited States, the world's largest exporter, reported five times the normalmoisture level.  Besides supply disruptions due to increased severeweather, the demand from ethanol continues to grow - currently approaching 1/3of total crops.   U.S.corn stockpiles are expected to fall 53% to a 13-year low prior to the 2009harvest. Soybeans rose to the 3-month high as well, as the government releasedexpectations that supply asFri, 13 Jun 2008 20:18:13 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-13.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-06.htmlGold seems to be heading into another rally, and which side of 895.01 we finish the week on could well determine its future direction. Support is currently below at 892.54, 891.37, and 889.90 Resistance is waiting above at 899.00, 905.46 and 913.50 If all the resistance levels give way, then the next key level to watch is 934.60 - if this level fails to form a top and later becomes our new support, then a longer-term rally could erupt taking price (eventually) up as high as 989.85  Fri, 06 Jun 2008 16:54:50 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-06-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-30.htmlBoth the US Dollar and the Dow showed remarkable resilience despite more scary figures out this week from the oil sector.  Besides setting a new high above $136 last week, yesterday's inventory numbers showed yet another drop, this time by 8.8 million barrels (the previous month saw a decline of 5.4 million). The GDP price index held steady at 2.6% for the quarter, meanwhile the preliminary GDP for the same period rose to 0.9%, up from 0.6% the prior quarter.  While many signs stillFri, 30 May 2008 20:59:53 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-30.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-23.htmlGold hit our first target of 917.61, then went on to hit our secondary target at 934.70 Some cooling is now in order, however if 917.61 continues to hold as support then a third target at 962.36 may come into view.  If price breaks below 917.61, the next support is waiting at 907.04, then 899.54 Silver meanwhile has finally broken our of the range it has been in for several weeks.  Both of our targets at 17.76 and 18.22 have been hit.  A cooling phase is expected next, with 17.76Fri, 23 May 2008 16:56:56 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-16.htmlGold surged today, as the US Dollar declined despite positive housing figures, due largely to higher oil prices and a failure by President Bush to secure an increase in output from Saudi Arabia (beyond the extra 300,000 barrels per day previously pledged). Breaking up past its 200 moving average and staying firmly above both key support at 892.59 and also the $900 psychological number, gold is currently poised for a try at 917.61, with resistance in the way first at 907.04 Should the preciousFri, 16 May 2008 20:46:52 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-16.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-09.htmlGold saw another rally this week as $126/barrel oil spurred fund managers to seek new hedges against inflation.  However 889.55 remains a solid resistance level for now.  If price manages to break above, the near-term target could be 905.35 - with additional resistance waiting at 892.82 and 896.85 A bearish divergence and turning stochastics on several timeframes suggest a period of cooling may set in before we see new highs.  Support is expected at 869.35, 865.10, and 860.85Fri, 09 May 2008 20:44:32 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-09.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-02.htmlGold has broken through support at 872.45, and is now on its way to re-test it as resistance.  If it breaks, then the next likely resistance level is 898.35 If the lower support at 843.69 fails to hold, then the next support levels are 829.30, 811.41, and an eventual target at 773.69 Silver has just bounced up from a major support level at 15.77, created by the intersection of a Fib and its 200 moving average.  Next it is on its way to test resistance at 16.62, and if that breaksFri, 02 May 2008 18:50:06 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-05-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-27.htmlGold has reached its short-term target for shorts, 879.14 (161.8% Fibonacci extension, based upon a 50% retracement).  It is slowly creeping back up, but what happens next at 888.96 and 904.85 resistance levels is key.  Much also depends upon the news reports coming out of the US all this week, and which direction they take the Dollar. If the US news continues to be negative, gold may well have found a bottom for now and may resume its upward movement.  If the news is positive,Sun, 27 Apr 2008 23:17:22 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-18.htmlGold prices cooled a little as the US Dollar rallied today, finally landing at 919.25 - a key support level.  If the week opens to further drops, the next support levels are 899.00, 882.70, and 862.45  If instead gold prices head back up, then resistance is likely waiting at 935.55, 955.80, and 972.10Fri, 18 Apr 2008 21:15:08 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-04.htmlA weaker Dollar and increased demand moved copper to a new 1-month high, while bad weather in the US threatens to cut grain production and is pushing wheat higher. The Dollar's slide is also felt in oil, where futures rose $2 per barrel today, and support at $100 now seems well established.  Heating oil and gasoline prices rose as well, due to refinery fires in California and Finland. Labor unrest in Brazil and farm protests over a new tax in Argentina have helped soybean prices in theFri, 04 Apr 2008 15:41:11 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-04-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-28.htmlAfter setting new record highs, both precious metals went through a cooling phase leaving everyone wondering what's next.  Both gold and silver are currently at key levels - which side of them they are trading on when the new week starts may give some insights as to what's coming next. While it is difficult to predict the shorter-term swings in today's volatile markets with any degree of accuracy (long-term I remain bullsih on both), here are the key levels to be aware of for now: GoldFri, 28 Mar 2008 10:48:04 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-14.htmlAlmost every metal on the market is posting gains and setting new highs... Gold is trading above $1000 per ounce for the second day in a row as the US Dollar continues its decline. Silver touched $20.86 per ounce today. Platinum has been rising all week and is currently trading at $2100 per ounce, however is still  shy of its recent high of $2270. Palladium has been moving in step with Platinum prices (currently trading at $510 per ounce), suggesting it is not yet ready to overtake itsFri, 14 Mar 2008 14:48:38 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-07.htmlAlmost every commodity has set new highs in the past week, and nearly all of them saw some declines going into the end of Friday's trading.  Not surprising with the jobs numbers which came out of the US.  A slowing economy spells lower demand.  So does this signal the end of their bull run? Much depends upon the particular commodity and the situation which surrounds it.  Certainly most are currently over-bought, and some cooling is long overdue.  What will be importantFri, 07 Mar 2008 16:28:43 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-03-07.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-29.htmlBoth gold and silver went on to set new record highs this week, as did oil and just about every other commodity out there.  Is there an end in sight?  Let's identify some likely targets:     Gold   Gold just broke above the next key resistance level at 966.44, and may now come back down to re-test it as support.  If that test succeeds early on in the following week, then eventually it could go as high as 998.81 this leg.  And obviously at those levels $1000Fri, 29 Feb 2008 20:10:38 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-29.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-21.htmlGold and silver both set new highs again this week, breaking the records they set just over a week ago. Gold is currently off its high and showing signs that it may enter a period of consolidation or cooling the next couple of days.  Support levels are at 937.27 and 914.05, meanwhile if it can catch a second wind then the next resistance is at 948.88 and 962.37 above that (spot prices). Silver still looks to have a bit of strength left in it, though is also due for a breath.  If itFri, 22 Feb 2008 00:21:55 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-14.htmlHappy Valentine's Day!   In case you are on the market for rings or earrings today, here is a brief update on the silver situation: Silver has indeed broken below the 17.39 support that we have had our eye on since the start of the week, and even went on to test the next support level at 17.12 We are presently above that level once again, however our 200 moving average, which previously acted as support, just tested successfully as resistance (see chart, below), so it could mean there areThu, 14 Feb 2008 11:31:58 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-12.htmlEveryone is talking about $20 or even $25 silver - but is this the rally that will take us there? While it is difficult to speculate out as far as $25 (this leg), the fundamentals and demand seem to be supporting this current rally, increasing chances that we will see 18.43 (spot), eventually. Looking at a Fibonacci pattern which has been developing since Dec. 14th of last year, we see that the most recent run up began at 13.58 and got us up as high as 16.58 before loosing steam. TheTue, 12 Feb 2008 16:11:02 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-07.htmlThere are certainly several interesting scenarios currently playing out in the metals markets. Gold, for example, just completed a long leg of a Fibonacci pattern, which started forming back around August 12th of 2007. After setting a high of 845.55 Dollars per ounce in early October, Gold retraced 38.2% to 767.77 in November. The most recent high was just over 923.44, which would complete the pattern right at the 138.2% Fib extension. Now, normally the prevailing wisdom is to let commoditiesThu, 07 Feb 2008 15:37:13 GMThttp://www.fxstreet.com/technical/analysis-reports/info@fxknight.com (fxKnight.com)http://www.fxstreet.com/technical/analysis-reports/the-commodities-corner/2008-02-07.html